All the evidence points to an economy well past being on the mend. Yet studies continue to show that segments within the U.S. economy still lack confidence in its ability to stick to an upward trajectory.
An ADP survey of mid-sized U.S. companies reports that many within this sector are doubtful that the economy’s momentum can be maintained. The main factors for their concern? The cost of benefits, and the effects of the Patient Protection and Affordable Care Act.
Big-picture results of the ADP survey are that just 15 percent of 750 mid-sized company executives believe the economy will improve during the next 12 months. However, more than half of them think their particular industry will keep moving ahead — and these respondents represent a full range of industries.
“This year the cost of health coverage and other employee benefits, the complexities of the Affordable Care Act and the level and volume of government regulations were the top three concerns of midsized businesses,” ADP reported.
Among specific findings:
- 69 percent are concerned with the cost of health coverage and other benefits;
- 54 percent are concerned with health care reform legislation;
- 51 percent are concerned with the level and volume of government regulations;
- 33 percent reported being fined or penalized for not complying with laws pertaining to how they manage their workforce.
Of those fined, 58 percent did not know how much the fines cost and 47 percent did not know how many times they were fined.
Also read: Consumers fearful of health care costs
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Dan Cook
Dan Cook is a journalist and communications consultant based in Portland, OR. During his journalism career he has been a reporter and editor for a variety of media companies, including American Lawyer Media, BusinessWeek, Newhouse Newspapers, Knight-Ridder, Time Inc., and Reuters. He specializes in health care and insurance related coverage for BenefitsPRO.
